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The Downside Of Living On Rent

The Downside Of Living On Rent

The Downside Of Living On Rent
Industry experts suggest it is wiser to buy a property when the monthly rent is more than the EMI on buying a property. (Dreamstime)

Remember when you landed that 'dream' job in the national capital? How the feeling of pure joy made all those years spent burning the midnight oil well worth it. The next obvious step is to find some accommodation near your office. You don't even think about buying one, renting is the cheaper, more affordable option. You think. Turns out living on rent is no cake walk either. The rent is just one part of the expense, there is a large chunk that has to be paid in meeting the various bills that go into the apartment. All this for essentially maintaining someone else's property

To make matters worse, your landlord doesn't understand the meaning of the word 'privacy'. He thinks its his divine right to knock on your door for anything and everything at any hour of the day or the evening. And there is always a rent hike just around the corner.

And what happens when that kitchen tap starts leaking? Long deliberations over who should get it fixed would often result with the buck stopping at you. Well, you do know you have your rights, too, as a tenant. But, from a practical point of view, if you started striking off the various clauses of model renting agreements, you may end up not finding a place to live. 

Another point which never occurs to most of us is the emotional bonding we form with a place. You are only human, right? You do start putting the best of your efforts to make your rented accommodation look its best. It's not just money that is spent over this; your emotions are involved, too. You got the walls painted white because that is your favourite colour? You chose long yellow curtains to spread sunshine inside your home. What happens when your landlord tells you your rent agreement has expired and you would have to leave the premises because he was planning to keep the unit now for his personal use? At the risk of sounding dramatic, we would say your heart will break. Finding no return of emotional investments can be equally jarring. 

Last Updated: Fri Nov 25 2016

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@@Fri Jul 05 2019 13:15:19